@Jtreacher so based on what you have found out & “if” tide even ever had a potential lender, the news that the bbb would extend the guarantee to the lender of tide directly must be a positive development.
Surely this is even better for a high street back than us going directly to them, they are succeed on the funds and have very minimal admin to complete… (if tide went under, would our loans through tide be written down automatically with the main st bank just receiving funds from the bbb ?)
Sadly I don’t share the same optimism in that the objective is to save SME’s, in my opinion it’s to save enough sme’s to ensure they don’t piss off a majority, that’s all.
As we can see and can be seen in how they are treating 3m people who have received nothing, how can it be ok for the government to allow some sme’s and firms to operate and still claim government funds & yet you completely ignore 3m ? And firms get an extra £1000 for bringing back employees? And you ignore 3m people who you forced to close and haven’t made money since February/march?
It’s an utter incompetent disgrace, nothing more than lazy contempt, it would not be that hard (harder, not fooking hard) to put out equal funds to everyone & really if the main objective was to save us and sme’s it wouldn’t be touted as acceptable every day in the house by rishi.
For similar reasons they rejected tides cry for help, they have done it on the continent, and they could do it. But again it’s further left for the banks to sort out.
@Pelican which as you’ve just highlighted again, if their intention is and they are happy to see the fintechs like tide go under, why would they bother?. If government main objective was to help us, they wouldn’t leave it to the Banks to decide the fate of the competition - almost laughable, especially when you consider it’s a fooking bank lol.
So now I guess the only real question that remains, if bbb are giving the guarantee to a bank, will a bank step in, or do we really live in such a fu*ked up society (country) that during a pandemic, when businesses are going under and people are on the verge of losing everything, Struggling to feed their kids, a bank will try to squeeze a few extra pounds out of people ?
Even more disgraceful when you think we bailed them all out in 2008 to the tune of £850b (tax payer funded of course)
Place your bets !!